Mannatech Reports Q4 2015 Sales $45.3 Million0
Mannatech Reports Q4 2015 Sales $45.3 Million
Mannatech, Incorporated, the pioneer of glyconutrition, leading innovator of naturally-sourced supplements based on Real Food Technology® solutions, and creator of the M5MSM (Mission 5 MillionSM) social entrepreneurial movement, today announced financial results for its fourth quarter 2015.
Fourth Quarter Results
Fourth quarter net sales for 2015 were $45.3 million, an increase of 0.2% as compared to $45.2 million in the fourth quarter of 2014. The net sales comparison for the quarter was affected by foreign exchange rates and new product launches.
Income from operations increased 7.7% to $2.8 million for the fourth quarter 2015, from $2.6 million in the same period in 2014. Net income was $1.5 million, or $0.56 per diluted share, for the fourth quarter 2015, as compared to $1.9 million, or $0.68 per diluted share, for the fourth quarter 2014.
For the three months ended December 31, 2015, Mannatech’s operations outside of North America accounted for approximately 58.9% of Mannatech’s consolidated net sales.
For the three months ended December 31, 2015, Asia/Pacific net sales increased by $1.6 million, or 7.4%, to $23.1 million, as compared to $21.5 million for the same period in 2014. Net sales comparisons for the fourth quarter were affected by the impact of fluctuations in foreign currency exchange rates. In constant dollars (a non-GAAP financial measure), fourth quarter 2015 net sales would have been $1.8 million higher, or $24.9 million. The currency impact was primarily due to depreciation of the Korean Won, the Japanese Yen and the Australian Dollar.
For the three months ended December 31, 2015, net sales for Europe, the Middle East and Africa (“EMEA”) decreased by $0.9 million, or 20.0%, to $3.6 million, as compared to $4.5 million for the same period in 2014. In constant dollars (a non-GAAP financial measure), net sales for the fourth quarter 2015 would have been $4.4 million. The currency impact was primarily due to the depreciation of the South African Rand and Euro.
North American net sales decreased by $0.6 million, or 3.1%, to $18.6 million, as compared to $19.2 million for the same period in 2014. The decreases were due to declines in associates and members holding active positions in our network.
The approximate number of new and continuing independent associate and member positions held by individuals in Mannatech’s network and associated with purchases of our packs or products as of December 31, 2015 and 2014 were approximately 219,000 and 230,000, respectively. Recruiting decreased 2.0% in the fourth quarter of 2015 as compared to the fourth quarter of 2014. The number of new independent associate and member positions in the company’s network for the fourth quarter of 2015 was approximately 21,400, as compared to 21,900 in 2014.
Mannatech, Incorporated, develops high-quality health, weight and fitness, and skin care products that are based on the solid foundation of nutritional science and development standards. Mannatech is dedicated to its platform of Social Entrepreneurship based on the foundation of promoting, aiding and optimizing nutrition where it is needed most around the world.
Mannatech’s proprietary products are available through independent sales associates around the globe including North America/South America (United States, Canada, Colombia and Mexico), Asia/Pacific (Australia, New Zealand, Japan, Taiwan, Singapore, the Republic of Korea, and Hong Kong), and EMEA (Austria, Denmark, Germany, Norway, Sweden, the Netherlands, the United Kingdom, Estonia, Finland, the Republic of Ireland, Czech Republic, South Africa, and the Republic of Namibia). For more information, visit Mannatech.com.